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Full-Text Articles in Social and Behavioral Sciences
The Incidence And Cost Of Job Loss In The Ukrainian Labor Market, Hartmut Lehmann, Norberto Pignatti, Jonathan Wadsworth
The Incidence And Cost Of Job Loss In The Ukrainian Labor Market, Hartmut Lehmann, Norberto Pignatti, Jonathan Wadsworth
Upjohn Institute Working Papers
We examine the effects of economic transition on the pattern and costs of worker displacement in Ukraine, using the Ukrainian Longitudinal Monitoring Survey (ULMS) for the years 1992 to 2002. Displacement rates in the Ukrainian labor market average between 3.4 and 4.8 percent of employment, roughly in line with levels typically observed in several Western economies, but considerably larger than in Russia. The characteristics of displaced workers are similar to those displaced in the West, in so far as displacement is concentrated on the less skilled. Around one third of displaced workers find re-employment immediately while the majority continues into …
Asynchronous Risk: Unemployment, Equity Markets, And Retirement Savings, Jason S. Seligman, Jeffrey Brian Wenger
Asynchronous Risk: Unemployment, Equity Markets, And Retirement Savings, Jason S. Seligman, Jeffrey Brian Wenger
Upjohn Institute Working Papers
The link between unemployment and pension accumulations is conceptually straightforward; periods of unemployment lead to lower pension contributions, and thus to lower accumulations. However, impacts on accumulation may differ as a result of the timing and frequency of unemployment spells. We hypothesize that unemployment is more likely during periods in which the equities market experiences greater than average returns, largely due to a lead/lag structure of the stock and labor markets, respectively. This would imply that workers may systematically miss opportunities to purchase equities through DC plans when prices are relatively low. To test this hypothesis, we match historic stock …